Wendel Said to Sell Remaining 14.4 Million Legrand Shares

By Ruth David -
Jun 10, 2013

Wendel (MF), France’s largest publicly
traded investment firm, is selling the remaining 14.4 million
shares it holds in Legrand SA (LR), the firm said yesterday.

Wendel offered the shares at between 35.90 euros apiece and
the market price, according to a person familiar with the
matter. At that price range, the company would raise at least
517 million euros ($614 million) at the low end.

Wendel is selling the shares in an accelerated bookbuild to
institutional investors, the company said in a statement.
Goldman Sachs Group Inc. (GS) is managing the sale and acting as sole
bookrunner.

Legrand shares fell 0.4 percent to trade at 37.12 euros at
the close in Paris. Wendel shares rose 0.8 percent to 85.16
euros.